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November 11 , 2015
The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) today released operational results for the second quarter (July-September) of FY2015.
A summary of the results is given below. See Appendix for a detailed breakdown of the figures by financial instrument.
I. Loans, Guarantees and Equity Participations
1. Commitments
In the second quarter of FY2015, JBIC made 77 commitments amounting to approximately JPY472.1 billion in loans, guarantees, and equity participations.
2. Disbursements, Repayments and Outstanding Amounts
Disbursements amounted to approximately JPY772.4 billion, while repayments were JPY423.9 billion in the second quarter. As a result, outstanding loans and equity participations totaled JPY14,828 billion and outstanding guarantees were JPY2,587.8 billion, with the total outstanding amount reaching JPY17,415.9 billion at the end of the second quarter.
II. Operational Highlights
1. Securing Stable Supply of Resources to Japan
As support related to natural resources development, JBIC provided loans in project financing for the production of methanol and dimethyl ether by a Japanese company in the Republic of Trinidad and Tobago; an FPSO charter project off the coast of Brazil; and LNG tanker procurement by CHUBU Electric Power Co., Inc.
2. Supporting Maintenance and Strengthening of the International Competitiveness of Japanese Industries
(1) Supporting Strategic Overseas Business Activities of Japanese Companies
① Overseas Investments of Japanese Companies
JBIC provided loans to Japanese companies' automotive parts manufacturing and sales businesses in Mexico; loans to an automobile sales financing business in Taiwan; and supported a Japanese company's equity participation in a Taiwanese petrochemicals business through subscription of preferred shares.
② Exports of Japanese Companies
JBIC provided loans to the Teekay Offshore Group, a leading shipping operator in Canada, to finance the purchase of anchor handling tug vessels, and to the IMC Holdings Limited Group, a major shipping operator in Singapore, for the purchase of multipurpose vessels, both to be built by Japanese shipbuilding companies.
(2) Supporting Overseas Infrastructure Development Business of Japanese Companies
JBIC provided loans, through Turkie Is Bankasi A.S., a commercial bank in Turkey, for a Turkish company to purchase machinery and equipment related to geothermal power generation from Japanese companies. This is an individual loan agreement based on the credit line signed with Isbank in October 2012 to support the export of Japanese machinery and equipment for the renewable energy and climate change mitigation sectors.
(3) Supporting Overseas Business Deployment of Mid-Tier Enterprises and Small and Medium-Sized Enterprises
JBIC approved 36 loans totaling approximately JPY11.6 billion to support the overseas business deployment of mid-tier enterprises and small and medium-sized enterprises (SMEs). These included loans for funding the clothing labels manufacturing and sales business of a Chinese subsidiary of Tentac Co., Ltd., and the die-casting mold manufacturing and sales business of a Mexican subsidiary jointly established by Shippo Moulds, Co., Ltd., Matsuoka Special Steel Co., Ltd., and Daido Die & Mold Steel Solutions Co., Ltd. JBIC also supported facility procurement through finance leases by mid-tier enterprises and SMEs operating overseas, on the basis of investment credit lines previously established with a Thai subsidiary of Mitsubishi UFJ Lease & Finance Company Limited and an Indonesian subsidiary of Sumitomo Mitsui Finance and Leasing Company, Limited, respectively.
In addition, JBIC established investment credit lines with The Hyakujushi Bank, Ltd. to support the overseas business deployment of mid-tier enterprises and SMEs.
(4) Supporting with Local Currency*1 Loans
JBIC provided 4 local currency loans totaling the equivalent of approximately JPY900 million. They included JBIC's first Indian rupee loan to fund the automotive, appliance, commercial, and industrial motors manufacturing and sales business of an Indian subsidiary of NIDEC CORPORATION; and a Thai baht loan to fund the health and hygiene products manufacturing and sales business of a Thai subsidiary of Saraya Co., Ltd.
(5) Other Support
JBIC signed a guarantee agreement with private financial institutions for loans necessary for the import of aircraft to be operated by the ANA Group.
3. Supporting Samurai Bond Issuance
JBIC agreed to provide a guarantee for and to acquire a part of the Samurai bonds (Japanese yen-denominated foreign bonds) issued by the Indonesian government.